Coinbase CEO Brian Armstrong said Tuesday that the company will cut roughly 14% of its workforce, or about 700 employees, citing a combination of market volatility and AI quickly changing how the company operates. The move comes ahead of Coinbase’s first-quarter earnings, which the company is scheduled to report Thursday. Shares fell 3% midday, after…
Social work and mental health counseling jobs are projected to grow faster than the average rate for all occupations over the next 10 years, according to the Bureau of Labor Statistics. But because these careers often require advanced degrees, yet offer low pay, it can be difficult for graduates to earn a positive return on…
Jack Dorsey, co-founder and CEO of Block, listens during the Bitcoin 2021 conference in Miami, June 4, 2021. Eva Marie Uzcategui | Bloomberg | Getty Images The tech industry has spent the last couple years debating whether artificial intelligence will actually eliminate jobs at scale or simply be used as an excuse for companies to…
Block said Thursday it’s laying off more than 4,000 employees, or about half of its head count. The stock skyrocketed more than 24% in extended trading. “Today we shared a difficult decision with our team,” Jack Dorsey, Block’s co-founder and CEO, wrote in a letter to shareholders. “We’re reducing Block by nearly half, from over…
Dan Rosensweig, CEO, Chegg Scott Mlyn | CNBC Chegg said on Monday it would lay off about 45% of its workforce, or 388 employees, as the “new realities” of artificial intelligence and diminished traffic from internet search have led to plummeting revenue. The online education company, founded 20 years ago, has been hit by the…
Bloomberg | Bloomberg | Getty Images Amazon and the Federal Trade Commission are squaring off in a long-awaited trial over whether the company duped users into paying for Prime memberships. The lawsuit, filed by the FTC in June 2023 under the Biden administration, alleges that Amazon deceived tens of millions of customers into signing up…
Microsoft CEO Satya Nadella speaks at Microsoft Build AI Day in Jakarta, Indonesia, on April 30, 2024. Adek Berry | AFP | Getty Images Microsoft said Wednesday that it will lay off about 9,000 employees. The move will affect less than 4% of its global workforce across different teams, geographies and levels of experience, a…
